Coty Inc 8-K, filed Jun 25, 2021
Coty Inc. (COTY)
About this 8-K
Coty Inc filed this 8-K on June 25, 2021, reporting on events of June 23, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 25, 2021 ( )
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 23, 2021, the Remuneration and Nominating Committee of the Board of Directors of the Company approved the terms of a separation agreement between the Company and Mr. Jones, the Company’s Global Chief Supply Officer. Under the terms of the separation agreement, Mr. Jones’ last day of active employment is June 30, 2021, with Mr. Jones remaining on non-active garden leave until his September 15, 2021 final separation date. Mr. Jones will receive the equivalent of 12 months of severance, payable as a lump-sum within 30 days of the execution of his separation agreement.
The foregoing description is qualified in its entirety by reference to the full text of the separation agreement, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the period ended June 30, 2021.
A copy of the press release announcing the management changes described herein is attached to this Current Report on Form 8-K as Exhibit 99.1. Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the Exchange Act) or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Registrant under the Securities Act of 1933 or the Exchange Act. A copy of the press release is also available on the Company’s website at www.investors.coty.com, under the “Investor News” tab.
| Item 9.01 | Financial Statements and Exhibits |
| (i) | Exhibits: |
| Exhibit No. | Description | |
| 99.1 | Press release dated June 25, 2021 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Coty Inc. | ||||||
| (Registrant) | ||||||
| Date: June 25, 2021 | By: | /s/ Kristin Blazewicz | ||||
| Kristin Blazewicz | ||||||
| Chief Legal Officer, General Counsel and Secretary | ||||||
Exhibit 99.1
RICHARD JONES TO LEAVE COTY
NEW YORK — Coty Inc. (NYSE: COTY), one of the world’s leading beauty companies and the global leader in fragrances, today announced that Richard Jones is stepping down from his role as Chief Supply Officer and Head of R&D. Jones, who joined Coty in 2019, will remain with Coty until June 30.
Commenting on the announcement, Sue Y. Nabi, Coty’s CEO said:
“I want to pay tribute to Richard for his contribution to the development of Coty’s Supply organization over the past two years, and more recently for his work with our R&D team. In particular, Richard played a significant role in organizing and maintaining our operations throughout the global pandemic. He leaves Coty a more efficient and agile business, with resources better focused on what we do best: creating and delivering world-class, innovative beauty products for consumers across the globe. ”
“The last couple of years at Coty have been an incredible experience, both personally and professionally,” said Richard Jones. “I am very proud of the way the team, one of the strongest I’ve ever worked with, and everyone at Coty has responded to the challenges brought about by the pandemic. Coty’s progress toward becoming a more modern and focused business have called for new and innovative approaches. The situation has made us think differently and to be more creative.”
In order to best serve Coty’s great ambitions in its strategic categories and to best leverage it’s unique IP, the Company intends to separate Richard Jones’ role into two positions, appointing an expert leader over each of Supply Chain and R&D. These new appointments will be announced in due course. In the interim, current Coty leaders will be assuming Jones’ responsibilities.
Ends
About Coty Inc.
Coty is one of the world’s largest beauty companies with an iconic portfolio of brands across fragrance, color cosmetics, and skin and body care. Coty is the global leader in fragrance, and number three in color cosmetics. Coty’s products are sold in over 150 countries around the world. Coty and its brands are committed to a range of social causes as well as seeking to minimize its impact on the environment. For additional information about Coty Inc., please visit www.coty.com.
Contacts
Investor Relations
Olga Levinzon, +1 212 389-7733 / Olga_Levinzon@cotyinc.com
Media
Stephanie Taylor, +1 954 465-7855 / Stephanie_taylor@cotyinc.com